Total budgets for services
Total taxable value
Individual taxable value
Property tax dollars
$25/1000 of value
$12.50/1000 of value
You can see from this comparison that the property tax dollars stayed the same, even though the individual taxable valuation doubled from $100,000 to $200,000. The reason is that the budgets stayed the same in the sample district, so the levy rate was cut in half as a result of the increase of $20,000,000 in taxable valuation. Admittedly, it doesn’t always work this way. The constant demand for services can create increased budgets. However, it is important to know that changes in your assessed value don’t automatically mean there will be a change in your property taxes. The levy rate, which is set by local governments, actually determines what you pay.
Can I appeal my new assessment if I don’t feel my property would sell for the new assessed value?
Property owners will have an opportunity to meet with a representative of Vanguard Appraisals, Inc. and the County Assessor if they feel for some reason the new value does not represent fair market value. These meetings are an opportunity for the property owner to submit any information which may affect the estimate of market value of their property. Property owners who wish to meet with a representative of Vanguard will request an appointment by calling the county assessor’s office. The deadline for making appointments with Vanguard representatives will be announced as valuations are completed. Property owners who feel the value indicated is not fair market value should be prepared to state their estimate of market value and present evidence to support that estimate, such as sales, costs, remodeling, recent appraisals, etc.
Property owners will also have an opportunity to protest the new assessed values to the Board of Review. A written protest must be submitted with the county assessors’ office between April 2nd and April 30th for the Board of Review to consider any adjustment.
Feel free to stop into the assessor’s office in the Harrison County courthouse if you have any questions regarding assessment issues.
It is hoped that the information provided in this article underscores the fact that a reassessment project is undertaken for the purpose of FAIRNESS AND EQUITY, not for any other reason. The assessor’s office appreciates your understanding and cooperation.
© 2017 Harrison County, Iowa